Port Charlotte FHA Loans

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Port Charlotte FHA home loans allow borrowers to obtain an easy mortgage loan for your property. The United States federal government insures these home loans through the Federal Housing Administration (FHA) to enable homeowners to obtain home loans with limited requirements and to provide security to the mortgage banker. If a borrower misses his payments, the MI covers the loss of the mortgage bankers.

Advantages of Port Charlotte FHA Home Mortgage Loans

With a minimal down payment of just 3.5% and its assumable terms of borrowing, Port Charlotte FHA home loans become a viable option for FTHB today. Even people with bad credit history can easily opt for a Port Charlotte FHA mortgage loan.

Disadvantages of a Port Charlotte FHA Home Mortgage Loan

However with the benefits of easy access comes the disadvantages that you have to pay a little more on your monthly mortgage loan payments to make up for the Mortgage Insurance.

Necessities to Get Qualified for an FHA Home Loan

To ensure you meet the requirements for a Port Charlotte FHA home mortgage, you need to be a legal citizen of the USA with gainful employment. Moreover, as the FHA department only accepts selected mortgage bankers for their mortgage loan insurance, you can not apply online for a Port Charlotte FHA mortgage loan from every mortgage banker. Even after you find the perfect mortgage loan from every mortgage banker, an FHA mortgage loan is only sanctioned if the house you are requesting to purchase has been authorized by the department of Federal Housing Administration.

Extent of a Port Charlotte FHA Home Mortgage

The maximum limits of the mortgage amount vary from state to state and county to county, however, the general max mortgage loan limit is approximately $625,000.

How to Obtain a Port Charlotte FHA Mortgage?

If you wish to request a Port Charlotte FHA mortgage, contact us at the First Nationwide Lending, where we can provide you with more information regarding these home loans and clarify your query to speed up the process of buying your new home.

 

Contact Us

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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